Publications: Papers

The Amazing Tale of US Energy Independence (The International Economy, Spring 2012)

 

In the Spring 2012 issue of The International Economy, Dr. Verleger writes, "In a little more than a decade, the United States will find itself as an energy exporter and this amazing outcome will have happened by accident. The United States will then have low-cost energy supplies for decades. If oil prices remain high, America will benefit from the difference. Today, South Korea pays around $14 per million Btus for natural gas; the United States will pay less than $4. The situation is, and will be, the same in China and Europe. They will pay more, and the comparative advantage will make it possible for the United States to remain the global economic leader. I have been studying energy issues for forty years and the data are difficult to believe. But facts are facts. U.S. energy independence, as controversial as it sounds, will lay the groundwork for the New American Century."

 

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